There are currently more than 800 music festivals in the U.S. and growing. In 2014, the five biggest festivals combined grossed more than $183 million in ticket sales in 2014 not including sponsorships or merchandise, food and alcohol sales. Here are the top 7 reasons that music festivals are growing exponentially:
lifetime value
Regardless of how you measure LTV, it’s important to do whatever you possibly can to improve it. When you succeed in getting customers to come back again and again, over time, you create a source of revenue that costs relatively little to maintain and that therefore has great profit potential for your business.